Crypto Trading Platforms Deal With Massive Withdrawal Requests — Over $5 Bill...
During the last week, the crypto community has been dealing with the demise of FTX and its affiliated crypto businesses, and ever since then, the proof-of-reserves topic has found its way to the forefront of conversations. Another silver lining to the fiasco is the fact that cryptocurrency enthusiasts have removed large quantities of bitcoin and ethereum from centralized trading platforms. Seven-day statistics from cryptoquant.com indicate that more than $3.4 billion in bitcoin has been removed from exchanges since Nov. 7, 2022. More Than $3.4 Billion in Bitcoin Has Been Removed From....
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Just days following an explanation that withdrawal delays were only affecting some customers, all users of the Japan-based bitcoin exchange Mt. Gox will be unable to withdraw their money, according to a statement released today. "In our efforts to resolve the issue being encountered by various bitcoin withdrawals, it was determined that the increase in the flow of withdrawal requests has hindered our efforts on a technical level. To understand the issue thoroughly, the system needs to be in a static state," the statement reads. "In order for our team to resolve the withdrawal issue it is....
The FTX crash has become the hottest crypto space news in the last few days. After rumors of the FTX insolvency issue, FTT experienced massive withdrawals that led to a price decline of nearly 80%. The FTX chief, Bankman-Fried, said the exchange was experiencing overwhelming withdrawal requests and called for assistance from Binance. Related Reading: […]
The FTX drama continues as the deal with its competitor Binance falls apart. According to several reports, employees at the platform are fleeing amid growing concerns about a massive $6 billion hole on the company’s balance sheet. Related Reading: Bitcoin On-Chain Data: Selling From Whales Holding 1k+ BTC Behind Crash A report from Semafor indicates that FTX’s legal and compliance staff left en masse as the company announced its deal with Binance. The report cites people familiar with the matter speculating on the company’s hurdles to completing any agreement without a legal staff. FTX’s....
The Bitcoin exchange and trading platform, Bitfinex has included Ethereum as one of the tradable crypto-assets. Users will be able to trade ETH/BTC and ETH/USD pairs from Monday. The phenomenal rise of Ethereum in the recent months is hard to ignore. The Ethereum cryptocurrency has gained over 100 percent in the past few months, increasing its demand among the cryptocurrency community. The increasing value combined with a positive outlook for Ethereum as a cryptocurrency and a platform has certainly kindled interest among crypto-traders. Ethereum-Bitcoin and Ethereum-US dollar are widely....
Cryptocurrency exchange Binance has warned investors of a “massive phishing scam via SMS.” The scammers sent SMS messages to crypto users informing them of a withdrawal request from an unknown IP address they may want to cancel. Massive Phishing Scam Targeting Crypto Investors Binance CEO Changpeng Zhao (CZ) tweeted Friday: There is a massive phishing scam via SMS with a link to cancel withdrawals. It leads to a phishing website to harvest your credential as in the screenshot below. According to the Binance boss, scammers sent SMS messages to cryptocurrency investors....